Telsey Advisory Group Trims Nordstrom (NYSE:JWN) Target Price to $32.00

Nordstrom (NYSE:JWN) had its price objective decreased by Telsey Advisory Group from $35.00 to $32.00 in a research note released on Thursday, Briefing.com Automated Import reports. Telsey Advisory Group currently has a market perform rating on the specialty retailer’s stock.

Several other equities analysts have also recently issued reports on JWN. KeyCorp decreased their price target on Nordstrom from $55.00 to $52.00 and set an overweight rating on the stock in a report on Wednesday, May 22nd. Gordon Haskett upgraded Nordstrom from a reduce rating to a hold rating and set a $33.71 price target on the stock in a report on Thursday, June 20th. Robert W. Baird decreased their price target on Nordstrom from $45.00 to $38.00 and set a neutral rating on the stock in a report on Wednesday, May 22nd. UBS Group cut Nordstrom from a buy rating to a neutral rating and decreased their price target for the company from $65.00 to $33.00 in a report on Tuesday, July 2nd. Finally, Deutsche Bank decreased their price target on Nordstrom from $47.00 to $36.00 and set a hold rating on the stock in a report on Wednesday, May 22nd. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $38.19.

Nordstrom stock opened at $28.57 on Thursday. The business’s 50-day simple moving average is $29.63 and its 200 day simple moving average is $37.47. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 1.35 and a beta of 0.66. Nordstrom has a 12-month low of $25.01 and a 12-month high of $67.75. The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34.



Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.14. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Nordstrom had a return on equity of 59.55% and a net margin of 3.17%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. As a group, sell-side analysts expect that Nordstrom will post 3.32 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.18%. The ex-dividend date is Thursday, August 29th. Nordstrom’s payout ratio is 41.69%.

In other Nordstrom news, insider Christine Deputy sold 4,812 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the transaction, the insider now owns 60,056 shares of the company’s stock, valued at $1,957,225.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter E. Nordstrom sold 3,380 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.46, for a total value of $109,714.80. Following the completion of the transaction, the insider now directly owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The disclosure for this sale can be found here. Corporate insiders own 5.21% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Keudell Morrison Wealth Management raised its position in Nordstrom by 142.2% in the 2nd quarter. Keudell Morrison Wealth Management now owns 11,549 shares of the specialty retailer’s stock valued at $348,000 after buying an additional 6,780 shares during the last quarter. Headinvest LLC raised its position in Nordstrom by 12.5% in the 2nd quarter. Headinvest LLC now owns 6,320 shares of the specialty retailer’s stock valued at $201,000 after buying an additional 700 shares during the last quarter. Garde Capital Inc. raised its position in Nordstrom by 9.2% in the 2nd quarter. Garde Capital Inc. now owns 6,325 shares of the specialty retailer’s stock valued at $202,000 after buying an additional 535 shares during the last quarter. Magnetar Financial LLC raised its position in Nordstrom by 8.0% in the 2nd quarter. Magnetar Financial LLC now owns 22,921 shares of the specialty retailer’s stock valued at $730,000 after buying an additional 1,699 shares during the last quarter. Finally, Stamos Capital Partners L.P. raised its position in Nordstrom by 454.5% in the 2nd quarter. Stamos Capital Partners L.P. now owns 61,000 shares of the specialty retailer’s stock valued at $1,921,000 after buying an additional 50,000 shares during the last quarter. 64.11% of the stock is currently owned by hedge funds and other institutional investors.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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